U.S. Energy Secretary Steven Chu joined seven other U.S. government agencies in launching a Renewable Energy and Energy Efficiency Export Initiative. Lithium investors will be familiar with the mandate of the initiative to promote renewable energy and energy efficiency exports.
The Russian government is currently spending billions of dollars to upgrade its electrical infrastructure ahead of the Olympic Winter Games in 2014, so this may be the first of several contracts for Ener1.
A recent report reveals lithium carbonate is currently trading in the range of $5,500 to $6,000 per tonne, which is an improvement from the US$5,300 per tonne average of 2009.
Revenues for lithium showed a considerable relative improvement recording an increase of 47.6 percent compared with last year. This demonstrates that the lithium market has improved considerably compared to the market conditions observed during 2009.
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